Toro Corp. reports Q1 diluted EPS 51c vs. 35c last year

Reports Q1 revenue $7M vs. $31.2M last year. Petros Panagiotidis, CEO, commented: “During the first quarter of 2024 we mostly operated an LPG carrier fleet, having successfully completed the sale of a substantial number of our tanker vessels at significant capital gains over the past twelve months. We also completed our share repurchase program on March 31, 2024, having bought back an additional 644,556 common shares during the first quarter of 2024. This brought the total number of shares repurchased under the program to 867,156 common shares. We enjoy a strong balance sheet with significant cash balances and currently without any debt following the repayment in January 2024 of our only outstanding loan facility. Looking ahead, we continue to seek opportunities to enhance our growth.”